Nick Saban has won two national titles at Alabama and was rewarded for his success Monday with a two-year extension and $550,000 raise. (AP Photo)

On Monday, the University of Alabama Systems board of trustees approved a contract extension for two more years, which takes it through Jan. 31, 2020, according to AL.com.

Also, Saban—whose led Alabama to two of the past three BCS titles—gets a $550,000 raise, taking his pay from $4,766,666.67 last season to $5,316,666.67 in 2012. His contract will average more than $5.6 million over the eight years remaining on the contract and he’ll make just short of $45 million, AL.com reported.

Saban wasn’t the only Crimson Tide coach to have his contract changed:

—Kirby Smart: The defensive coordinator had contract extended through 2015 and received a $100,000 raise, making his salary $950,000.

—Doug Nussmeier: The new offensive coordinator has a three-year deal worth $590,000 this season.

—Lance Thompson: The linebackers coach replaced Sal Sunseri, who left to become the defensive coordinator at Tennessee, and has a two-year contract for $375,000.